$5,461 Closing Credit*
$459,900
1,100 SqFt
1 Bed
•2 Baths
Listing Office: RE/MAX Results - Nisswa
Is Merrifield, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Merrifield has remained a Seller's Market.
Key Takeaway
Merrifield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Merrifield, MN
How much do homes in Merrifield, MN cost?
Median Sold Price
$425,000
$248/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$22,500(-5.0%)
Key Takeaway
Homes in Merrifield have sold for 5% less than they did a year ago.
Summary: The median home sold price in Merrifield was $425,000 in October 2024, down 5% from last year, and the median price per square foot was $248.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $182.5K | $211K | +15.6% |
| 2 Bedrooms | $343K | $330K | -3.8% |
| 3 Bedrooms | $564.5K | $420K | -25.6% |
| 4 Bedrooms | $1.0M | $508K | -49.2% |
| 5+ Bedrooms | $420K | $375K | -10.7% |
Summary: Merrifield housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.6%, 2 bedroom homes decreased by 3.8%, 3 bedroom homes decreased by 25.6%, 4 bedroom homes decreased by 49.2%, and 5+ bedroom homes decreased by 10.7%.
Median Sold Price Compared To Nearby Cities
| Center Township | $379.9K | $445K | +17.1% |
| Merrifield | $447.5K | $425K | -5.0% |
Housing Supply in Merrifield, MN
How many homes are available in Merrifield, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 26 | 28 | +7.7% |
Summary: The Merrifield real estate market had 28 homes for sale in October 2024, a 7.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 11 | 11 | 0.0% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Merrifield housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Merrifield, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in Merrifield in October 2024, up by 50.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 50% were sold at asking, and 17% were sold over asking.
Days on Market for Merrifield, MN
How long does it take to sell a home in Merrifield, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 27 Days | 36 Days | +36.1% |
Summary: Homes in Merrifield had an average of 36 days on market in Oct 2024, up by 36.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Merrifield are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 6 homes were sold in Merrifield; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
